GFG Resources has intersected a significant high-grade gold system at the Nib prospect at its 100% owned Pen gold project 40 km west of the Timmins gold district in Ontario, Canada. The intersect graded 71.27 g/mt gold over 8.5 m, including 511 g/mt gold over 1.15 m at a vertical depth of approximately 50 m below surface.
“Hole PEN-20-47 is the most significant intercept ever drilled on our 500-km2 Pen gold project,” GFG President and CEO Brian Skanderbeg said. “This exceptional intercept along with the multiple mineralized intervals further down hole demonstrates that the Nib prospect has the potential to host a large-scale gold system.
“These recent results in combination with numerous significant intercepts at our other regional targets validate our view that this portion of the Abitibi has the potential to host multiple gold deposits next to a world-class gold camp. We look forward to follow-up drilling on this very exciting and underexplored target in our Phase 2 2020 drill program in the third quarter.”